ITC to acquire spice-maker Sunrise Foods

Indian consumer goods giant ITC said on Sunday that it will acquire spices maker Sunrise Foods Private Limited.

The company on May 23 entered into a Share Purchase Agreement to acquire 100% of the equity share capital of Sunrise Foods Private Limited

ITC in a release said, “The proposed acquisition will augment the product portfolio and is aligned to ITC’s aspiration to significantly scale up its Spices business and expand its footprint across the country”

The acquisition will also help ITC ramp up its spices business in the country. ITC already sells spices under its Aashirvaad brand, popular in markets such as Telangana and Andhra Pradesh. It is also one of the leading exporters of high-quality spices.